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No idea mate! Another couple of biggish trades went through earlier around 175/6p..
I'm looking forward to a Holding RNS or two, to confirm they are done.
Between 2 funds, they have taken off 33% of the share value here - just constant sells, against any liquidity.
Very frustrating for holders
Results look solid enough, lets see what the market thinks..
Revenue up 14.6% to £297.7m
EBITDA up 15.6% to £106.6m
Profit up 25.7% to £67.1m
Net cash £33.9m
Final dividend recommendation 4.42p
Looking ahead
Installing 180 photo booths a month
Installing 80 to 90 laundry units a month
I find the crazy thing is that by selling piecemeal into any liquidity, these funds are destroying the value of their remaining holdings of RFX!
Simply madness....
But agree with you, a lovely opportunity to buy shares at daft cheap prices.
427,830 shares gone through at 186p
I'm expecting to see Holding RNS soon that big seller is out..
Share price should recover then.
Good call, Surprised! A couple of funds have been selling RFX for a while, presumably due to PIs taking money out and funds closing. As a result, any decent PIs buys have been sold into and this has spooked / scared others from buying.
As always market makers drop bid hard, at first sign of a few large sells and spread can be large..
However RFX now dirt cheap at this price (35% off year high price, despite record £10m profit) and decent dividend too.
What's not to like!!
The weird thing for me here is that there are still private investors selling small blocks of shares around 192p. Makes no sense when this goes ex dividend next week 15 Feb at 7.1p a share. Surely they would hang on for a few more weeks to pick up their 3.5% return.
Yes there are other PIs buying around 195-197p, but its pretty much stalemate at the moment in terns of buy / sells.
Full year results to 31/10/23 (and hopefully update to present) are due on Thursday 22nd Feb.
The market makers just did a nice shake down, but share bounced back to 127p. I'm expecting price to break 130p shortly..
I guess shortfall is around 10%. FY to end Jan 23 was rev £41.2m, FY to end Jan 22 was £41.4m
Today FY to end Jan 24 is £37.0m
Agreed mate - I'm not suggesting you sell. I'm a holder here and as far as I'm concerned they are a bargain at this price. Unfortunately there have been forced sellers (funds) where PIs have taken money out of these funds and they are scratching round trying to liquidate assets. Also PIs generally are harder to find when you can get 5% in a deposit account with no risk. However RFX share price will turnaround this year and I fully expect to see 265+ plus later this year.
Year high 171p. Current discount almost 30%
Year results expected Feb.
Trade update showed Rev £298m (slightly below expectations), profit £67m (top end of expectations) Net cash £34.3m
What's not to like?
There's got to be a large overhang here to clear, before the share price can move upwards.
I keep seeing big trades going through at the mid point i.e. between bid and ask - this is where one market maker has shares to shift from a large seller (fund) and is selling to another at the mid point price.
Just seen another 70,708 go through at 210p (reported late as always!)
Group revenue up 3% (Like for like revenue up 5.3%)
Adjusted operating profits to be at least in line with upper end of expectations c£91m
Net debt significantly ahead of expectations, around £230m
Momentum being carried into 2024.
Simon Thomson, Investors' Chronicle, just now...
"It means that Ramsdens’ shares are rated on a lowly price/earnings (PE) ratio of 8.5, offer a prospective dividend yield of 5.4 per cent and trade on 1.3 times book value despite boasting a heavily asset-rich balance sheet. That’s a low rating for a company that has just delivered a post-tax return on equity of 17 per cent. It’s worth flagging that Ramsdens is forecast to deliver growth even after absorbing the 10 per cent increase in the national living wage in May 2024 and £0.4mn higher energy costs this year, a reflection of the strength in its underlying businesses."
Excellent RNS out today - Baupost sold entire holding 116.5m shares to Long Range Capital who specialise in FMCG companies and will have NED on the board. Share price up 6% in response.
Trade update out on Thursday 18th January.
RNS out today - IHC buy Airon Corp for $2.5m ($1.5m from cash reserves and $1.0m to be paid at later date based on delivery of future revenues) Only a small outfit with revenue $1.4m, loss $0.4m, net assets $1.3m) however it will be a good platform to sell the SLE6000 neo natal ventillator, subject to FDA approval.
Looks a good acquisition to increase sales in large US market.
Https://www.londonstockexchange.com/news-article/SWG/contract-wins/16274819
Hi Pedro, was that your 210,500 shares bought at 47p?
Hopefully whoever is dumping 50k and 100k blocks into any rise, is gone!
Clearly the shorters and city funds decided to use today to batter down any shares where there has been any weakness; and where the share prices picked up for the Santa rally, before Christmas.
THG isnt the only one down hard today. Look at Petrofac down 10.3%; Boohoo down 8.8% etc. None of these companies released any bad information today. Its just a targeted attack to either make money short selling or to use algos to drive down share prices in order to buy back at a lower level.
The key thing here is its designed to scare you.
- Play tricks with your mind, question if you should have sold at a higher price
- question if you should now sell at a loss etc.
For the bold, its a perfect opportunity to top up, buy more, buy to replace the ones you sold into a profit on the santa rally.
The key thing here is that the shorter positions have massively reduced - that tells you they know what's coming i.e. a significant re-rating in share price to over a pound.
As a minimum, on the next trade update; but followed by an MBO, buyout or split up of the 3 divisions to deliver real value for shareholders this year.
Just hold, or be bold and add more.
Sit back and enjoy the ride up